Hobbit Inches Closer

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Jackson on the verge of finalizing directing deal.

By Scott Collura

Peter Jackson is on the verge of finalizing a deal to direct the two Hobbit films while talks between MGM and Warner Bros., both of which have a stake in the films, get closer to giving the dual projects a greenlight.

According to The Wrap, Jackson's "deal is all but complete, according to individuals close to the project. Both Jackson's directing fee and percentage of the gross have been settled, though a number of lesser deal points remain outstanding."

Of course, he replaces Guillermo del Toro, who left The Hobbit after the project was repeatedly delayed.

Inevitably, as the two films finally approach becoming a reality, talk of a 3D production has also come up.

"At Warner's, executives are eager to get production under way, given that sets are already built in New Zealand and the cast is chafing on hold for a start date," reports the site. "About $30 million has already been spent on the project, the first part of which is scheduled to hit theaters Dec. 19, 2012."

Meanwhile, the BBC says that New Zealand Prime Minister John Key has spoken out about the union dispute that some have said could lead to the production leaving his country. Key said that the government was taking "the unusual step of holding initial discussions with those involved in a move to break the deadlock on pay."